Coupons provide a major expenditure for advertising and promotion of product manufacturers. A large portion of the U.S. consumers use coupons, at least occasionally. In addition to manufacturers, stores participate in coupon promotions by issuing their own coupons or increasing the value of a manufacturer s coupons, However, coupon use is limited because coupons have no inherent value and cannot be converted directly into cash. Many people do not use coupons due to the inconvenience of cutting out coupons and matching coupons to purchases. Use of coupons is also limited due to the perceived minimal value of coupons.
In the United States, people have a very low savings rate. This is of particular concern in the education arena as costs have increased. The importance of a college education in today's society has been increasing. Providing a college education has become difficult for American families as the cost at both private and public schools has been increasing dramatically.
Therefore, a need exists to assist families in saving for educational purposes. A need also exists for improved uses of coupons which can assist in funding education or other purposes.